Rising energy costs hinder Eurozone recovery

Rising energy prices driven by the Middle East conflict are making it harder for Eurozone manufacturing to recover, especially in energy-intensive sectors.

As Middle East tensions push up energy prices and disrupt supply chains, Eurozone industrial production, particularly in energy-intensive industries, is facing new risks. Data released on Friday show that the Eurozone industrial output fell by 1.5 percent month on month in January, following a 0.6 percent decline in December, marking the lowest level since December 2024.

Bert Colijn, chief economist at Dutch financial services firm ING, noted that markets had hoped increased public investment in the Eurozone, especially in defense and infrastructure, would boost manufacturing. However, he warned, if energy prices continue to rise, the recovery prospects for energy-intensive sectors will be hit hard.

Colijn said that while confidence in Eurozone manufacturing had only recently begun to recover, renewed geopolitical tensions are once again posing significant downside risks to the region's industrial outlook.

Rising energy costs hinder Eurozone recovery

Rising energy costs hinder Eurozone recovery

Rising energy costs hinder Eurozone recovery

Rising energy costs hinder Eurozone recovery

A large crowd of Iranians took to the streets of Tehran on Friday to mark the International Quds Day, an annual event expressing support for Palestinians and condemnation of Israeli actions.

The event, established by Iran in 1979, is observed on the final Friday of the fasting month of Ramadan. This year, it fell on March 13 and amid the ongoing U.S.-Israeli strikes against Iran.

Many participants felt the gathering this year carried a broader significance -- representing not only solidarity with the Palestinian cause, but also a reflection of their own national identity amid rising regional tensions.

"This year we're seeing a lot of people here. I have come a long way. What are the sins of these people being killed? We should be all present and support the oppressed," said Zeinab, a participant.

"I have come here to just say to the United States that there is nothing you can do to us. Our Supreme Leader is dead, but his son is here and we stand firmly behind them, even behind his son's son," said Tahere, a Tehran resident.

Many families, students and workers joined the marches, waving Iranian and Palestinian flags, as participants said the situation has strengthened unity at home.

"I have come here both for Palestine and for my country, and I have come here to say that we are Iranians and no one can invade our country," said Behrooz, a resident.

"This is my first time here and I want to say that although Imam Khamenei was killed, there are thousands of others like him and we will stand behind Mojtaba Khamenei forever," said Mehri, another resident.

Iranians hold mass rallies to mark Al Quds Day amid US-Israeli attacks